M en H: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
M en H
NACE 46.319, Wholesale of fruit and vegetables, excluding potatoes
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€641
2024 · €10,100-€9,460
Equity
€315,057
2024 · €314,416+€641
Cash
€26,086
2024 · €31,936-€5,850
Balance sheet total
€620,971
2024 · €640,578-€19,607
Largest movements
Assets
- Tangible fixed assets -€12,562
down €12,562 (-2.4%), from €513,868 to €501,307
of which Land and buildings: -€8,323
Equity and liabilities
- Debts after one year -€14,286
down €14,286 (-6.5%), from €218,809 to €204,524
of which Financial debts: -€14,286
- Trade debts -€7,164
down €7,164 (-10.0%), from €71,331 to €64,167
Income statement
- Gross operating margin -€5,028
down €5,028 (-13.0%), from €38,552 to €33,524
- Other operating charges -€2,950
down €2,950 (-42.1%), from €7,008 to €4,058
- Depreciation -€2,820
down €2,820 (-19.1%), from €14,782 to €11,962
- Financial charges -€2,312
down €2,312 (-31.3%), from €7,375 to €5,063
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€10,100
Gross operating margin
-€5,028
Depreciation
+€2,820
Other operating charges
+€2,950
Other operating items
-€12,658
Financial income
+€146
Financial charges
+€2,312
Result 2025
€641
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4,836
Investment
+€3,600
Financing
-€14,286
Cash 2024
€31,936
From operations (derived)
+€4,836
Net result for the year
+€641
Depreciation
+€11,962
Stocks and contracts
+€2,290
Receivables within one year
-€5,266
Deferred charges and accrued income
+€1,172
Trade debts
-€7,164
Tax, wage and social debts
-€689
Other debts
+€2,404
Accrued charges and deferred income
-€513
Investment (derived)
+€3,600
Investment in fixed assets (net)
+€3,600
Financing
-€14,286
Debts after one year
-€14,286
Cash 2025
€26,086
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €640,578 | €620,971 | -€19,607 | -3.1% |
| Fixed assets | 21/28 | €526,894 | €511,332 | -€15,562 | -3.0% |
| Intangible fixed assets | 21 | €12,747 | €9,747 | -€3,000 | -23.5% |
| Tangible fixed assets | 22/27 | €513,868 | €501,307 | -€12,562 | -2.4% |
| Land and buildings | 22 | €502,341 | €494,018 | -€8,323 | -1.7% |
| Plant, machinery and equipment | 23 | €10,763 | €6,158 | -€4,605 | -42.8% |
| Furniture and vehicles | 24 | €765 | €1,130 | +€366 | +47.8% |
| Financial fixed assets | 28 | €279 | €279 | = | 0.0% |
| Current assets | 29/58 | €113,684 | €109,639 | -€4,046 | -3.6% |
| Stocks and contracts in progress | 3 | €47,850 | €45,560 | -€2,290 | -4.8% |
| Stocks | 30/36 | €47,850 | €45,560 | -€2,290 | -4.8% |
| Amounts receivable within one year | 40/41 | €32,327 | €37,594 | +€5,266 | +16.3% |
| Trade receivables | 40 | €15,764 | €22,996 | +€7,232 | +45.9% |
| Other amounts receivable | 41 | €16,563 | €14,598 | -€1,965 | -11.9% |
| Cash at bank and in hand | 54/58 | €31,936 | €26,086 | -€5,850 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,571 | €399 | -€1,172 | -74.6% |
| Total equity and liabilities | 10/49 | €640,578 | €620,971 | -€19,607 | -3.1% |
| Equity | 10/15 | €314,416 | €315,057 | +€641 | +0.2% |
| Contributions | 10/11 | €630,000 | €630,000 | = | 0.0% |
| Revaluation surpluses | 12 | €297,180 | €297,180 | = | 0.0% |
| Reserves | 13 | €55,314 | €55,314 | = | 0.0% |
| Distributable reserves | 133 | €55,314 | €55,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€668,077 | -€667,436 | +€641 | +0.1% |
| Amounts payable | 17/49 | €326,162 | €305,914 | -€20,248 | -6.2% |
| Amounts payable after more than one year | 17 | €218,809 | €204,524 | -€14,286 | -6.5% |
| Financial debts | 170/4 | €73,809 | €59,524 | -€14,286 | -19.4% |
| Other amounts payable | 178/9 | €145,000 | €145,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €106,827 | €101,378 | -€5,449 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €14,286 | €14,286 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €71,331 | €64,167 | -€7,164 | -10.0% |
| Suppliers | 440/4 | €71,331 | €64,167 | -€7,164 | -10.0% |
| Taxes, remuneration and social security | 45 | €3,120 | €2,431 | -€689 | -22.1% |
| Taxes | 450/3 | €0 | €311 | +€311 | |
| Remuneration and social security | 454/9 | €3,120 | €2,120 | -€1,000 | -32.1% |
| Other amounts payable | 47/48 | €18,091 | €20,494 | +€2,404 | +13.3% |
| Accrued charges and deferred income | 492/3 | €525 | €12 | -€513 | -97.8% |
| Non-recurring operating income | 76A | €10,127 | €15,287 | +€5,160 | +51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,782 | €11,962 | -€2,820 | -19.1% |
| Other operating charges | 640/8 | €7,008 | €4,058 | -€2,950 | -42.1% |
| Non-recurring operating charges | 66A | - | €12,658 | +€12,658 | |
| Gross operating margin | 9900 | €38,552 | €33,524 | -€5,028 | -13.0% |
| Operating profit (loss) | 9901 | €16,762 | €4,845 | -€11,917 | -71.1% |
| Financial income | 75/76B | €713 | €858 | +€146 | +20.4% |
| Recurring financial income | 75 | €713 | €858 | +€146 | +20.4% |
| Financial charges | 65/66B | €7,375 | €5,063 | -€2,312 | -31.3% |
| Recurring financial charges | 65 | €7,375 | €5,063 | -€2,312 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €10,100 | €641 | -€9,460 | -93.7% |
| Profit (loss) for the period | 9904 | €10,100 | €641 | -€9,460 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,100 | €641 | -€9,460 | -93.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.